20. 3.50 points value: TB MC Qu. 2-94 McGown Corp has the following information:

Question

20. 3.50 points value: TB MC Qu. 2-94 McGown Corp has the following information: McGown Corp ha s the following information: Beginning Ending Inventory Inventory (12/31) Raw Materials Inventory Work in Process Inventory Finished Goods Inventory $24,200 $33,600 $20,900 $ 21,800 $30,500 21,700 Additional information for the year is as follows Raw materials purchases Direct labor Manufacturing overhead applied Indirect materials $106,600 $ 83,300 $ 81,500 0 Compute the cost of goods manufactured. O $261100 O $253,200o O $283,700 O $262,900o

Explanation / Answer

Answer is: A. $261,100

Raw material purchased $ 106,600 Add: Beginning raw material inventory $    24,200 Less: Ending raw material inventory $ (33,600) Raw material used for production $    97,200 Direct labour $    83,300 Manufacturing overhead $    81,500 Total manufacturing cost $ 262,000 Add: Beginning work in process inventory $    20,900 Less: Ending work in process inventory $ (21,800) Cost of goods manufactured $ 261,100

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